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Madhucon Projects Ltd.

BSE: 531497 | NSE: MADHUCON |

Represents Equity.Intra - day transactions are permissible and normal trading is done in this category
Series: EQ | ISIN: INE378D01032 | SECTOR: Construction & Contracting - Civil

BSE Live

Sep 17, 16:00
4.73 -0.14 (-2.87%)
Volume
AVERAGE VOLUME
5-Day
35,368
10-Day
22,701
30-Day
14,796
89,354
  • Prev. Close

    4.87

  • Open Price

    5.10

  • Bid Price (Qty.)

    4.75 (254)

  • Offer Price (Qty.)

    5.00 (750)

NSE Live

Sep 17, 15:42
4.75 -0.15 (-3.06%)
Volume
AVERAGE VOLUME
5-Day
58,819
10-Day
51,399
30-Day
44,886
50,912
  • Prev. Close

    4.90

  • Open Price

    5.00

  • Bid Price (Qty.)

    0.00 (0)

  • Offer Price (Qty.)

    0.00 (0)

Annual Report

For Year :
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Director’s Report

The Directors are pleased to present the Seventeenth Annual Report together with the Audited Accounts for the year ended March 31, 2007. FINANCIAL HIGHLIGHTS: Rupees in Lakhs 2006-07 2005-06 Gross Income 51004.78 34953.55 Profit before Depreciation & Taxation 8429.14 5671.20 Depreciation 2530.40 1912.62 Profit before Taxation 5898.74 3758.57 Provision for Taxation i) Current Tax 1325.00 421.08 ii) Deferred Tax 403.41 4.36 iii) Fringe Benefit Tax 13.47 6.53 Profit after Taxation 4156.86 3326.60 Profit available for appropriation 4156.86 3326.60 APPROPRIATION General Reserve 415.68 997.98 Proposed Dividend 221.38 221.38 Corporate Tax on Proposed Dividend 37.62 31.05 Taxation adjustments of earlier years 59.85 15.25 Balance transferred to Balance Sheet 3422.30 2120.79 Earnings per Share (Rs.) 11.26 11.80 Book Value (Rs.) 177.96 146.61 Paid-up Equity Share Capital 740.32 740.32 Reserves & Surplus 44050.89 40212.90 REVIEW OF OPERATIONS: During the year under review, your company achieved a Gross Income of Rs.51004.78 lacs as against Rs.34953.55 lakhs of previous year. After providing depreciation of Rs.2530.40lacs (previous year Rs. 1912.62 lakhs), your company earned a net profit of Rs.4156.86 Lakhs as against Rs. 3326.60 Lakhs of previous year. Dividend The Directors are pleased to recommend an Equity Dividend of 30% on paid up Capital for the year ended 31.03.2007 subject to approval of the Members at the Annual General Meeting. Corporate Governance A separate section titled Corporate Governance including a certificate from the Auditors of the Company confirming compliance of the conditions of Corporate Governance as stipulated under Clause 49 of the Listing Agreement is annexed hereto and forms part of the Report. Directors Sri.S.V.Patwardhan, Managing Director of the company resigned from the Board on 30th April 2007 and in his place Sri.N.Seethaiah, Joint Managing Director was appointed as Managing Director of the Company. Sri.K.Srinivasa Rao, Non-Executive Director retiring by rotation is eligible to be appointed as Director of the Company. The Board of Directors records its appreciation for the valuable services rendered by Sri.S.V.Patwardhan during his tenure as Managing Director of the Company. Directors' Responsibility Statement Pursuant to the requirement under Section 217 (2AA) of the Companies Act, 1956, with respect to Directors' Responsibility Statement, it is hereby confirmed: a) That in the preparation of accounts for the financial year ended 31 st March 2007, the applicable accounting standards have been followed, along with proper explanation relating to material departures. b) That the Directors have selected the accounting policies and applied them consistently and made judgements and estimates that are reasonable and prudent, so as to give a true and fair view of the state of affairs of the company, at the end of the year under review and of the Profit of the Company, for the year under review. c) That the Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956, for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities. d) That the Directors have prepared the annual accounts for the year ended 31st March 2007 on a going concern basis. Industrial Relations The relations with the employees continue to be cordial. Your Directors express their appreciation for the dedicated services of the Employees and Officers of the company for fulfilling the objectives and attaining the goals of the company. Fixed Deposits The Company has not accepted any deposits from the Public under Section 58A of the Companies Act, 1956. Particulars of Employees None of the employees of the company was in receipt of remuneration, which in the aggregate exceeded the limits fixed under Sub-section (2A) of Section 217 of the Companies Act, 1956. Conservation of Energy, Technology Absorption and Foreign Exchange earnings and outgo In accordance with the requirements of Section 217 (1)(e) of the Companies Act, 1956 read with Companies (Disclosure of particulars in the report of Board of Directors) Rules, 1988 particulars with respect to conservation of energy is enclosed as Annexure-1 in this report. Auditors M/s K.Siva Rama Krishna Prasad & Co., Chartered Accountants, the present auditors of the company have expressed willingness to accept the reappointment as Auditors for the financial year 2007-08 to hold office upto the conclusion of the next Annual General Meeting. They have furnished a certificate to the effect that their proposed appointment if made will be in accordance with the limits specified under 224(1-B) of the Companies Act, 1956. Acknowledgements The Directors express their appreciation to the Company's foreign collaborators, Bina Puri Holdings Bhd, Malaysia, Anchored Earth Sdn Bhd, Malaysia, SINOHYDRO Corporation, Beijing, China, SREI Infrastructure Finance Limited, Bankers especially State Bank of India, Canara Bank, ICICI Bank Limited, Oriental Bank of Commerce, IDBI Bank Limited, Centurion Bank of Punjab Limited, Andhra Bank and Central Government Authorities including National Highway Authorities of India (NHAI), Irrigation & CAD Department, Government of Andhra Pradesh and other clients, consultants and suppliers for their support and co-operation. For and on behalf of the Board N. NAGESWAR RAO CHAIRMAN Place : Hyderabad Date : 30.07.2007 ANNEXURE - 1 TO THE DIRECTORS' REPORT (Information as per section 217(1)(e) of the Companies Act, 1956 read with the Companies (Disclosure of particulars in the Report of the Board of Directors) Rules, 1988) I. CONSERVATION OF ENERGY a) Introduced Load Sharing Engine Generator Control Package (EGCP) System in our diesel generator plants. This has resulted in equitable load sharing on all Generator sets. Further, introduction of suitable rating capacitors along with EGCP system has resulted in obtaining higher KWH per litre of diesel, which in turn reduces the cost. b) Introduction of FCMA (Flux Compensated Magnetic Amplifier) Starters for the Crusher motors. This reduces the starting currents considerably. c) Energy conservation measures reduce the production cost per unit with reference to energy consumption. d) Total energy consumption and energy consumption per unit of production as per Form-A of the annexure to the rules of industries specified in the schedule thereto: Not Applicable. II. FOREIGN EXCHANGE EARNINGS & OUTGO 2006-2007 2005-2006 Rs. Lacs. Rs. Lacs. A. Value of imports calculated on CIF basis: (i) Components, embedded goods and spare parts. (ii) Capital goods. 3043.08 431.38 B. Expenditure in foreign currencies: (i) GDR Expenses - 609.16 C. Earnings in foreign currencies (On accrual basis) (i) Interest 704.40 104.74 (ii) Re-imbursement of GDR expenses - 177.60 (iii) Foreign exchange gain - 121.72 (iv) Others 8.53 - For and on Behalf of the Board N. NAGESWAR RAO CHAIRMAN Place : Hyderabad Date : 30.07.2007

Director’s Report